Last week, investors had plenty to be thankful for, with the S&P 500 setting record highs and gaining 1.08%. Gross Domestic Product estimates, Personal Consumption Expenditures, and lower treasury yields helped drive stocks to record highs. Online Black Friday sales hit records in the US as people spent $10.8 billion or $11.3 million online every minute from 10 a.m. to 2 p.m.
We kick off December this week, hoping to continue the Santa Claus rally. Investors will scrutinize November’s Job Openings and Employment Situation Report for further labor market insight. These reports will help formulate the Fed’s December 18th rate decision. There’s currently a 64.2% of a 0.25% rate cut.
For a deeper dive into last week’s markets and economic events, read the latest issue of Market Week.
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Thank you for reading! You are welcome to contact me directly with questions or comments.
Regards,
David Bennett